Frigid January weather has kept all but the most determined buyers from the housing market. Sales remain below last month’s levels by double-digit percentages across all home types. However, some segments are seeing year-over-year improvement, and activity, in general, was stronger than the previous week.

Condos have seen the most substantial uptick with 96 units sold, 12 more than last year, marking a 14 per cent year-over-year increase, and 43 per cent increase week-over-week. Semi-detached houses also had a strong showing — while unchanged from last week, sales are up 125 per cent from 2018. Though, this represents just 9 homes sold. Overall, a smaller inventory of this home type can lead to more volatile trends. Townhouses remain 30 per cent below last year’s levels with 7 units sold (up 17 per cent weekly), while detached Toronto houses are down -13 per cent year over year with 40 homes sold (up 48 per cent weekly).

Real Estate News